PRESS DIGEST - China - July 26
SHANGHAI, July 26
SHANGHAI, July 26 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.
21ST CENTURY BUSINESS HERALD
- China is expected to start a railway development fund this year, which plans to raise 100 billion yuan ($16.30 billion), with a focus on development of line construction in poor areas in the country's central and western regions, Premier Li Keqiang said at a State Council executive meeting on Wednesday.
- Bank of China has been chosen for a pilot programme that will allow overseas branches of Chinese companies to remit offshore yuan back onshore to pay employee salaries, bypassing current daily limits on remittance of offshore yuan.
SHANGHAI SECURITIES NEWS
- The ministry of industry and information technology released on Thursday a list of companies with outdated production facilities that will be closed by September. The list covered 19 industries, including cement and paper and names 19 listed companies.
- China's non-governmental organisations, charitable foundations and private non-enterprise units, among others, may in the future be able to provide pensions for their employees, according to a paper published recently by the ministry of civil affairs.
For Hong Kong and South China newspapers see.....
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